Eros in talks with Apple to sell content library and streaming service

Ausiliatrice Cristiano
Agosto 7, 2017

The Cupertino giant is reportedly getting closer to a $1bn acquisition of the film and music library of Eros Group. Eros is said to have held talks with Netflix and Amazon Prime too.

Parallel discussions with rival media and technology majors Amazon and Netflix have also gathered momentum as the Kishore Lulla led company is planning to embark on a mega restructuring exercise that is likely to result in a reverse merger of its NYSE listed parent Eros International Plc into its locally listed subsidiary Eros International Media by the end of this financial year to create a single listed firm, the report added.

Eros Music now sits under Eros International.

The deal may include Eros' digital over-the-top (OTT) platform, Eros Now, the Economic Times report said.

Eros Now has almost 2.9 million paid subscribers and over 100 million registered subscribers, and is also housed under USA entity Eros International.

If the deal between Eros Group and Apple Inc actually follows through, it would mean over 3000 Indian movies (both from Bollywood and regional cinema) from the Eros library will be available via Apple. All this would mean premiere entertainment content and access for the potential suitor, as the rivalry between conglomerates, stand alone service providers, media, telcos and digital OTT companies for music and video streaming intensifies by the day.

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